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A forest fire on the Shoshone National Forest, Wyoming. Climate change will make these fires more frequent. Photo credit: Getty
The Trump administration's antipathy to climate change is well-known – the president called climate change a hoax invented by China and pledged to take the US out of the Paris climate change agreement , while a recent US government report suggests that global temperatures will rise 4 ° C (7 ° F) – and that there is nothing to do, so we can also continue to emit greenhouse gases in the air.
The National Highway Traffic Safety Administration (NHTSA) report aimed to justify Trump's plan to freeze energy efficiency standards after 2020. The paper admitted that such temperature rises would cause extreme heat waves, more Floods and droughts and increasingly acidic oceans dissolve the coral reefs that decimate natural wonders such as the Great Barrier Reef and leave many cities in the world under water through the rising of the level of the sea, announced the Washington Post, which revealed the story.
But NHTSA adds that "avoiding these problems" would require a substantial increase in technological innovation and adoption from current levels and would compel the economy and fleet to abandon the technology. The use of fossil fuels, which is currently not technically or economically feasible. feasible."
A new report written by people who know what they are talking about, the Intergovernmental Panel on Climate Change (IPCC), explains how much the Trump administration's approach on climate change is stupid, as well as the consequences of its inability to tackle global warming for businesses – and investors – around the world.
The latest IPCC publication, the special report on global warming of 1.5 ° C, is based on a completely different idea from the NHTSA report – that the world is already working to limit increases in temperature at 2 ° C under the Paris Agreement but do not do enough.
We are already seeing the consequences of global warming through global warming through extreme weather events such as this summer's global heat wave, rising sea levels, and declining sea ice. Arctic, among other changes, indicates the report. warming by 3 ° C by the end of the century.
Limiting global warming to 1.5 ° C will have considerable benefits, climate scientists say. These include 10 cm less than the sea level rises in 2100 compared to 2 ° C, which will spare a large number of communities, including some island nations of the world (and perhaps the Trump seaside resort , Mar Lago, Fla.), Effects of sea level rise., Salt water pollutes freshwater supplies, floods and storm surges. This would also allow us to preserve some coral reefs (although only 10% to 30% of them only), compared with 99% loss at higher temperatures.
In addition, there would be fewer heat waves, which can be fatal for humans and ecosystems, and they would not last that long. Hurricanes and typhoons would cause less flooding and droughts would not last as long, which would have a considerable impact on the amount of food and water available. Fewer species would disappear and impacts on human health would be lower.
"Every little warming supplement is important, especially since a warming of 1.5 ° C or more increases the risk associated with lasting or irreversible changes," said Hans-Otto P & ouml; rtner, one of the coordinators of the report. Limiting global warming would also give people and ecosystems more room for adaptation, added P & ouml; rtner.
Limiting global warming to 1.5 ° C would require "fast and deep" transitions between land, energy, industry, buildings, transportation and cities. CO2 emissions are expected to fall by about 30% from 2010 levels by 2030, reaching "net zero" by 2050. This means that the remaining emissions will have to be balanced by removing CO2 from the air.
While the NHTSA report assumes that no action to address climate change is happening anywhere in the world, the IPPC report highlights that some of the things we need to do already exist, such as the replacement of fossil fuel electricity by renewable energy, the replacement of gasoline cars. with electric vehicles and reduce energy consumption. However, all these trends must occur much more quickly, the report adds.
Despite Trump's reluctance to deal with the problem, the IPPC report will increase the likelihood of government response at the national, regional and municipal levels, and the regulations they introduce will force companies to change the way they do business. "The IPCC report is a call to wake up world leaders asleep," said Andrew Steer, President and CEO of the World Resources Institute. & Nbsp: "The difference between warming and the impact of warming between 1.5 and 2 ° C is important and could even change. And the devastation that would accompany the current trajectory of 3-4 ° C would be much greater. "
The IPCC report comes just days after the consulting firm PwC said in its latest "Low-Carbon Economy Index": "The gap between the current decarbonization rate and that needed to limit global warming to two degrees is widening. & Nbsp; There seems to be almost no chance of limiting global warming to well below 2 ° C, although the widespread use of carbon capture and storage technologies, including Natural Climate Solutions, may make this possible. & Nbsp; "
Former Vice President Al Gore added that "the Trump administration has become an aberrant species in its short-sighted attempt to support the dirty fossil fuel industries of the past. The administration is in direct conflict with the companies, states, cities and US citizens who are leading the transformation. "
There is a small window of opportunity to reverse the trend of global warming by rapidly moving away from fossil fuels. "Given the need to reduce emissions by 50% by 2030 and reach the zero carbon zero target by 2050, the risks and opportunities for businesses are considerable. The report says that rapid changes are needed in energy, transportation and industrial systems in particular, "said Gudrun Cartwright, environment director of Business in the Community in the UK.
Nicolette Bartlett, Director of Climate Change at CDP, added that "the next ten years will be crucial for building the foundations needed to limit the dangerous impacts of global warming. Business as usual is no longer an option.
"We are already seeing leading companies, cities, governments and investors moving towards a low-carbon transition. not only because they identify the increased risks of climate change, but also because they see the opportunities of the new green economy. That it is to set scientific targets for reducing emissions and switch to 100% renewable energy, protect freshwater resources and prevent deforestation, climate action it quickly integrates into the whole of the world economy.
"However, this latest scientific update sends a clear signal that this momentum needs to accelerate and accelerate quickly. We have the technical and financial tools to fight climate change, and we have no time to waste. A world at 1.5 ° C is still achievable, but it will take urgent action at all levels, "she said.
According to the Economist Intelligence Unit, climate change will not cost $ 43 billion in current prices to the global economy, says Steve Waygood, responsible investment manager at Aviva Investors. "This is not a risk that we can afford to take," he says. "Keeping the global temperature rising at 1.5 ° C will help protect our investment portfolios and protect our clients' savings. The long-term negative financial consequences of climate change are far greater than the short-term financial risks of the transition to the Paris Agreement. "
And indeed, the report presents clear opportunities for companies that help create a zero carbon economy, says Nick Molho, executive director of the Aldersgate Group, which represents some of the UK's leading companies.
"With strengths in areas such as off-road electric and wind turbine manufacturing, energy-efficient building design, and green financial and legal services, UK companies have a solid foundation for accelerating fuel efficiency reductions." emissions and be at the forefront of developing new clean technologies. and the services that the global economy will demand more and more. "
The IPCC report highlights why Trump's attempts to support carbon-dependent companies are doomed to failure – science makes it clear that they need to become carbon-neutral and contrary to what the Commission suggests NHTSA, alternatives are available and are becoming more and more economically feasible. . Refusing to accept one of these realities hurts citizens and businesses around the world, including the United States. As PwC says, "eEvery year the global economy fails to decarbonize at the required rate, Goal 2 & deg; C & nbsp; becomes harder to reach. "It is even harder to reach 1.5 & deg; C – but that does not mean that the solution is to give up. Instead, we need to redouble 39; efforts.
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A forest fire on the Shoshone National Forest, Wyoming. Climate change will make these fires more frequent. Photo credit: Getty
The Trump administration's antipathy to climate change is well-known – the president called climate change a hoax invented by China and pledged to take the US out of the Paris climate change agreement , while a recent US government report suggests that global temperatures will rise 4 ° C (7 ° F) – and we can not do anything about it, so we could just as easily continue to emit greenhouse gases in the atmosphere.
The National Highway Traffic Safety Administration (NHTSA) report aimed to justify Trump's plan to freeze energy efficiency standards after 2020. The paper admitted that such temperature rises would cause extreme heat waves, more Floods and droughts and increasingly acidic oceans dissolve the coral reefs that decimate natural wonders such as the Great Barrier Reef and leave many cities in the world under water through the rising of the level of the sea, announced the Washington Post, which revealed the story.
But NHTSA adds that "avoiding these problems" would require a substantial increase in technological innovation and adoption from current levels and would compel the economy and fleet to abandon the technology. The use of fossil fuels, which is currently not technically or economically feasible. feasible."
A new report written by people who know what they are talking about, the Intergovernmental Panel on Climate Change (IPCC), explains how much the Trump administration's approach on climate change is stupid, as well as the consequences of its inability to tackle global warming for businesses – and investors – around the world.
The latest IPCC publication, the special report on global warming of 1.5 ° C, is based on a totally different premise from that of NHTSA – that the world is already working to limit temperature rises. at 2 ° C under the Paris Agreement, but that we 're do not do enough.
We already see the consequences of 1 ° C of global warming on extreme weather events such as this summer's global heat wave, sea level rise, and shrinking sea ice in the Arctic. other changes, says the report. warming by 3 ° C by the end of the century.
Limiting global warming to 1.5 ° C will have tremendous benefits, climate scientists point out. These include 10 cm less than the sea level rises in 2100 compared to 2 ° C, which will spare a large number of communities, including some island nations of the world (and perhaps the Trump seaside resort , Mar Lago, Florida), effects of sea level rise, salt water polluting freshwater supplies, floods and storm surges. This would also allow us to preserve some coral reefs (although only 10% to 30% of them only), compared with 99% loss at higher temperatures.
In addition, there would be fewer heat waves, which can be fatal for humans and ecosystems, and they would not last that long. Hurricanes and typhoons would cause less flooding and droughts would not last as long, which would have a considerable impact on the amount of food and water available. Fewer species would disappear and impacts on human health would be lower.
"Every little extra warming counts, especially because warming 1.5 ° C or more increases the risk associated with lasting or irreversible changes," said Hans-Otto Pörtner, one of the report's coordinators . Limiting global warming would also give people and ecosystems more leeway, Pörtner added.
Limiting global warming to 1.5 ° C would require "fast and deep" transitions in the realms of land, energy, industry, buildings, transportation and cities. CO2 emissions are expected to fall by about 30% from 2010 levels by 2030, reaching "net zero" by 2050. This means that the remaining emissions will have to be balanced by removing CO2 from the air.
While the NHTSA report assumes that no action to address climate change is happening anywhere in the world, the IPPC report highlights that some of the things we need to do already exist, such as the replacement of fossil fuel electricity by renewable energy, the replacement of gasoline cars. with electric vehicles and reduce energy consumption. However, all these trends must occur much more quickly, the report adds.
Despite Trump's reluctance to deal with the problem, the IPPC report will increase the likelihood of government response at the national, regional and municipal levels, and the regulations they introduce will force companies to change the way they do business. "The IPCC report is a wake-up call for sleepy global leaders," said Andrew Steer, president and CEO of the World Resources Institute. "The difference in impact between 1.5 and 2 ° C of warming is important and could change the game. And the devastation that would accompany the current trajectory of 3-4 ° C would be much greater. "
The IPCC report comes just days after consultation with the consulting firm PwC, in its latest index "Low-Carbon Economy Index": "The gap between the current decarbonization rate and the one that was to limit global warming to two degrees is widening. There seems to be almost no chance of limiting warming to well below 2 ° C, although the widespread use of carbon capture and storage technologies, including Natural Climate Solutions, may make this possible. "
Former Vice President Al Gore added that "the Trump administration has become an aberrant species in its short-sighted attempt to support the dirty fossil fuel industries of the past. The administration is in direct conflict with the companies, states, cities and US citizens who are leading the transformation. "
There is a small window of opportunity to reverse the trend of global warming by rapidly moving away from fossil fuels. "Given the need to reduce emissions by 50% by 2030 and reach the zero carbon zero target by 2050, the risks and opportunities for businesses are considerable. The report says that rapid changes are needed in energy, transportation and industrial systems in particular, "said Gudrun Cartwright, environment director of Business in the Community in the UK.
Nicolette Bartlett, Director of Climate Change at CDP, added that "the next ten years will be crucial for building the foundations needed to limit the dangerous impacts of global warming. Business as usual is no longer an option.
"We are already seeing leading companies, cities, governments and investors moving towards a low-carbon transition. not only because they identify the increased risks of climate change, but also because they see the opportunities of the new green economy. That it is to set scientific targets for reducing emissions and switch to 100% renewable energy, protect freshwater resources and prevent deforestation, climate action it quickly integrates into the whole of the world economy.
"However, this latest scientific update sends a clear signal that this momentum needs to accelerate and accelerate quickly. We have the technical and financial tools to fight climate change, and we have no time to waste. A world at 1.5 ° C is still achievable, but it will take urgent action at all levels, "she said.
According to the Economist Intelligence Unit, climate change will not cost $ 43 billion in current prices to the global economy, says Steve Waygood, responsible investment manager at Aviva Investors. "This is not a risk that we can afford to take," he says. "Keeping the global temperature at a maximum temperature of 1.5 ° C will help protect our investment portfolios and the savings of our customers. The long-term negative financial consequences of climate change are far greater than the short-term financial risks of the transition to the Paris Agreement. "
And indeed, the report presents clear opportunities for companies that help create a zero carbon economy, says Nick Molho, executive director of the Aldersgate Group, which represents some of the UK's leading companies.
"With strengths in areas such as off-road electric and wind turbine manufacturing, energy-efficient building design, and green financial and legal services, UK companies have a solid foundation for accelerating fuel efficiency reductions." emissions and be at the forefront of developing new clean technologies. and the services that the global economy will demand more and more. "
The IPCC report highlights why Trump's attempts to support carbon-dependent companies are doomed to failure – science makes it clear that they need to become carbon-neutral and contrary to what the Commission suggests NHTSA, alternatives are available and are becoming more and more economically feasible. . Refusing to accept one of these realities hurts citizens and businesses around the world, including the United States. As PwC says, "eEvery year, when the global economy fails to decarbonize at the required rate, the 2 ° C target becomes harder to reach. "It is even more difficult to reach 1.5 ° C – but that does not mean that the solution is to give up – we must redouble our efforts.
